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credit debt

Date: Wed, 01/12/2011 - 15:34

Submitted by anonymous
on Wed, 01/12/2011 - 15:34

Posts: 202330 Credits: [Donate]

Total Replies: 2


my wife opened a credit card(visa with compass in 2006.she started a restuarant consulting business as a 2nd job.she shut the 2nd business down in late 2007/early 2008.compass just called her and said she had a outstanding balance of 4000.00.my wife did set up a seperate p.o box for her consulting jobs mail.she closed thep.o box when she closed the business.we have a home address and have not recieved any statements from compass in the last 3 yrs.we will pay the bill as we have excellent credit.can we negotiate a settlement to try to get the late fees/29% interest stopped until paid in full


Hi!
Welcome to the forums!
First of all your wife should ask compass to validate the debt, If they can prove that your wife really owes the debt, then your wife should think about making the payments. If they can't validate the debt, then there is no point in making the payments. Rather your wife should send a cease and desist letter to compass.

Yes, your wife can negotiate a settlement with compass. But much will depend on her negotiation skills also.If she don't have a good negotiation skills, then she should get professional help. She can get a list of verified debt relief companies from our Ranking Chart section.


lrhall41

Submitted by Good Nelly on Wed, 01/12/2011 - 19:43

( Posts: 2846 | Credits: )